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Portugal

Population: 10,302,674
Size: 92,090 sq km
GDP: USD 237.714 billion
Official language: Portuguese

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Portugal

Country Overview

Portugal is Europe’s westernmost country — one steeped in history, art, and culture — with picturesque scenery and several UNESCO World Heritage Sites. A founding member of both NATO and the EU, Portugal is a sovereign country bordered by Spain to the north and the east, and by over 850 km of azure Atlantic Ocean to the south and the west.

Its extensive coastline, which boasts over 300 blue flag beaches, and its temperate Mediterranean climate, with warm, sunny summers and mild winters, make Portugal a prime vacation and relocation destination for high-net-worth families and retirees.

In recent times Portugal has established a broader appeal by developing and promoting several natural and sporting destinations to attract a wider range of visitor. A number of high-profile architects and golfers have designed world-class golf courses, resulting in Portugal being considered a top golfing destination both in Europe and globally.

Some of the world’s best seafood cuisine can be enjoyed with the country’s fine wines at Portugal’s seafront restaurants that are dotted along the shores of theAtlantic. This perfect combination results in what many consider to be one of Europe’s most romantic settings.

Perhaps the most inspiring aspect of Portugal is that is has successfully retained its old-world charm. Two of the country’s best-known cities, Lisbon and Porto, showcase this in abundance. Indeed, the historic center of Porto is a classified UNESCO World Heritage Site, along with no less than 16 other buildings and areas located elsewhere in the country.

Enchanting Portugal is a country that expressively presents Europe’s past, where the pace of life is luxuriously slower, and where traditional values are still appreciated

Real Estate

Portugal has long been a popular choice for expatriates. In general, the cost of living in Portugal is low in comparison to other European countries, and there are several advantages to purchasing real estate in the country. Portugal’s Non-Habitual Resident Tax Regime provides excellent tax benefits, including a set 20% tax on personal income over a 10-year period and no double tax charges on self-employment, employment, or pension income derived from abroad. Recent legislation has determined that foreign retirees can live in Portugal and receive a tax-free pension income.

Portugal’s Golden Resident Permit Program allows foreign citizens to purchase a property in Portugal with a minimum value of EUR 500,000. The purchaser is eligible to apply for residence, and if the investment is maintained for a further five years, they can apply for Portuguese citizenship. The program has been a great success and has prompted an increase in the purchase of real estate in Portugal by foreign investors.

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